Regulatory Alerts2023-01-01
Circular No. 36/2023 – Guide for Reporting Suspicious Transactions and Activities
Palestine Monetary Authority issued Circular No. 36/2023 to all money changers in Palestine, mandating the implementation of the attached Guide for Reporting Suspicious Transactions and Activities. The directive requires money changers to train relevant staff on suspicion indicators and internal reporting requirements, while enhancing the monitoring of suspicious activities through specific indicators and scenarios. These measures aim to improve the quality of reports submitted to the Financial Monitoring Unit.
Palestine Monetary Authority
Circular No. (36/2023) To all Money Changers operating in Palestine Date: Wednesday, 08 February 2023
Subject: The Guide for Reporting Suspicious Transactions and Activities
Attached is the Guide for Reporting Suspicious Transactions and Activities. Accordingly, the necessary measures are requested to be taken regarding this matter; in order to serve improving the quality of reports submitted to the esteemed Financial Monitoring Unit, and to work on the following:
- Informing and training relevant employees on suspicion indicators and internal reporting requirements.
- Enhancing the monitoring of suspicious activities and transactions using specific indicators and scenarios.
Supervision Group Palestine Monetary Authority
Copy to: The esteemed Financial Monitoring Unit